Ex-Morgan Stanley Exec Cops To Role In China Bribery Scheme

Law360, New York (April 25, 2012, 9:41 PM EDT) -- A former Morgan Stanley executive in China admitted Wednesday to his role in a scheme to secure business through bribes to a Chinese official with whom prosecutors said he had close ties, including part of a multimillion-dollar investment in a Shanghai building.

Garth Peterson, 42, a former managing director for the banking giant’s real estate business in China, pled guilty in New York federal court to one count of conspiring to circumvent Morgan Stanley’s internal accounting controls required by the Foreign Corrupt Practices Act, which prohibits...